Report: Best Buy Will Stop Selling Music CDs July 1

When was the last time you bought a music CD? If you did, chances are it was not from the Best Buy as the retailer has decided to call time on music CD sales. As of July 1, you will no longer be able to walk into it. Best Buy and browse through its music CD collection.

As Billboard reports, Best Buy has already been informed by its music suppliers that their services will no longer be required . The decision to drop CDs follows an 18.5 percent decline in music CD sales in 2017. For Best Buy specifically, it is thought music CDs now only generate $ 40 million per year. Vinyl will continue to be sold, but that's only guaranteed for the next two years.

Target is trying a different tactic. Instead of dumping CDs completely, it wants music and movies to be sold on a consignment basis. What that means is, Target would only pay for an individual CD or DVD once it is scanned and sold to a customer. That shifts the risk back to vendors and away from Target in what is clearly declining markets.

Music and video suppliers have not agreed to Target's demand yet, but a deadline has been set and we must know for sure what is happening as we head to the second half of 2018. It seems to be unlikely that it would be impossible to buy CDs altogether, and possibly DVDs, too.

CDs, DVDs, and even Blu -rays will not disappear, but they could soon become online-only purchases. With the rise of the streaming media services, eventually, even releasing, physical copies of new music, movies, and TV shows could come into question.